Maryland legislation · 2026 Regular Session
Maryland SB469: Maryland Automobile Insurance Fund - Affordability Program and Industry Automobile Insurance Association Assessments
Status: Signed into law, May 26, 2026
Altering the cap, from 3% to 1%, on a certain assessment allocation percentage required to be calculated by the Board of Directors of the Industry Automobile Insurance Association; and authorizing the Executive Director of the Maryland Automobile Insurance Fun to establish an affordability program subject to certain requirements and modification under certain circumstances.
What the bill says
An act concerning Maryland Automobile Insurance Fund - Affordability - Purpose of Fund and Authorized Program Program and Industry Automobile Insurance Association Assessments FOR the purpose of altering the purpose of the Maryland Automobile Insurance Fund to specify that the financial security provided by the Fund be provided at rates that are affordable; altering the cap on a certain assessment allocation percentage required to be calculated by the Board of Directors of the Industry Automobile Insurance Association…
From the enrolled text, June 3, 2026:
AN ACT concerning Maryland Automobile Insurance Fund - Affordability - Purpose of Fund and Authorized Program Program and Industry Automobile Insurance Association Assessments FOR the purpose of altering the purpose of the Maryland Automobile Insurance Fund to specify that the financial security provided by the Fund be provided at rates that are affordable; altering the cap on a certain assessment allocation percentage required to be calculated by the Board of Directors of the Industry Automobile Insurance Association; authorizing the Executive Director of the Maryland Automobile Insurance Fund to establish a certain affordability program subject to certain requirements and modification under certain circumstances; and generally relating to the Maryland Automobile Insurance Fund. BY repealing and reenacting, without amendments, Article - Insurance Section 20-101(a), (b), (d), (f), and (g) and 20-507(a), (c), and (e) Annotated Code of Maryland (2017 Replacement Volume and 2025 Supplement) BY repealing and reenacting, with amendments, Article - Insurance Section 20-301(a) 20-405(d) and 20-507(b) Annotated Code of Maryland (2017 Replacement Volume and 2025 Supplement) BY adding to Article - Insurance Section 20-521 Annotated Code of Maryland (2017 Replacement Volume and 2025 Supplement) SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, That the Laws of Maryland read as follows: Article - Insurance 20-101. (a) In this title the following words have the meanings indicated. (b) "Association" …